Retained Vs Contingent Search - Pros and Cons

Today, let's unravel a hot topic—Retained vs. Contingent Search. Each comes with its own set of merits and pitfalls, but let's dig into when one might outweigh the other.

👍 𝗥𝗲𝘁𝗮𝗶𝗻𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵 𝗣𝗿𝗼𝘀:

1️⃣ 𝘗𝘳𝘪𝘰𝘳𝘪𝘵𝘺 𝘚𝘦𝘳𝘷𝘪𝘤𝘦: Your roles are front and center. This isn't a game of musical chairs; it's a VIP experience.

2️⃣ 𝘋𝘦𝘦𝘱 𝘋𝘪𝘷𝘦: Retained Search allows for a more in-depth understanding of your organizational needs, resulting in better placements.

3️⃣ 𝘌𝘹𝘤𝘭𝘶𝘴𝘪𝘷𝘪𝘵𝘺: This is a boutique service. Your consultant is committed to finding your perfect fit.

👎 𝗥𝗲𝘁𝗮𝗶𝗻𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵 𝗖𝗼𝗻𝘀:

1️⃣ 𝘊𝘰𝘴𝘵: Usually more expensive upfront, but remember, quality isn't cheap.

2️⃣ 𝘊𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵: You're tied to one firm, but when it's a good match, that's a pro, not a con!

👍 𝗖𝗼𝗻𝘁𝗶𝗻𝗴𝗲𝗻𝘁 𝗦𝗲𝗮𝗿𝗰𝗵 𝗣𝗿𝗼𝘀:

1️⃣ 𝘕𝘰 𝘞𝘪𝘯, 𝘕𝘰 𝘍𝘦𝘦: Tempting, right? No upfront payment required.

2️⃣ 𝘚𝘱𝘦𝘦𝘥: These firms often work quickly, but remember, they're racing against their other clients, too.

👎 𝗖𝗼𝗻𝘁𝗶𝗻𝗴𝗲𝗻𝘁 𝗦𝗲𝗮𝗿𝗰𝗵 𝗖𝗼𝗻𝘀:

1️⃣ 𝘚𝘱𝘭𝘪𝘵 𝘍𝘰𝘤𝘶𝘴: Your role might not get the attention it needs.

2️⃣ 𝘘𝘶𝘢𝘭𝘪𝘵𝘺 𝘷𝘴. 𝘚𝘱𝘦𝘦𝘥: It's a race, and not always to the top.

3️⃣ 𝘊𝘭𝘪𝘦𝘯𝘵 𝘊𝘰𝘮𝘱𝘦𝘵𝘪𝘵𝘪𝘰𝘯: Contingent recruiters usually specialize in specific verticals. This creates competition among CLIENTS for top candidates, and the recruiter will go where the deal is sweetest.

4️⃣ 𝘍𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘚𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦: Fees are typically a percentage of the new hire's salary. This might incentivize recruiters to push candidates to the top end of your budget.

The takeaway? For skilled and leadership roles, Retained is a safer bet. For roles that need immediate filling, Contingent is generally faster.

So, what's your preference? Team Retained or Team Contingent?